Yahoo Finance Perion Network (PERI) Gains As Market Dips: What You Should Know
Perion Network (PERI) closed at $32.50 in the latest trading session, marking a +0.78% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, added 5.44%.
Coming into today, shares of the digital media company had gained 32.06% in the past month. In that same time, the Computer and Technology sector gained 11.1%, while the S&P 500 gained 4.57%.
Wall Street will be looking for positivity from Perion Network as it approaches its next earnings report date. This is expected to be February 8, 2023. In that report, analysts expect Perion Network to post earnings of $0.70 per share. This would mark year-over-year growth of 59.09%. Meanwhile, our latest consensus estimate is calling for revenue of $205.07 million, up 29.81% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Perion Network. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Perion Network currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Perion Network is currently trading at a Forward P/E ratio of 13.9. Its industry sports an average Forward P/E of 21.5, so we one might conclude that Perion Network is trading at a discount comparatively.
Meanwhile, PERI's PEG ratio is currently 0.56. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. PERI's industry had an average PEG ratio of 1.8 as of yesterday's close.
The Internet - Content industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Perion Network Ltd (PERI) : Free Stock Analysis Report
